IIMA Ventures and Google partner to boost 22 AI startups

IIMA Ventures (formerly IIMA-CIIE) has announced its partnership with Google for Startups and launched its first cohort of AI Academy India 2024.

The program aims to help early-stage startups harness Artificial Intelligence (AI) to address global challenges across sectors like healthcare, climate, agriculture, education, financial inclusion, and infrastructure. Following its launch in Gujarat, AI Academy India 2024 will also be held in six other cities across India in partnership with Kerala Startup Mission, T-Hub & MATH, IHFC-IIT Delhi, NSRCEL IIM Bangalore, SINE IIT Bombay, IIT Madras Incubation Cell, along with Nasscom AI and People+AI.

Supported by MeitY Startup Hub, the first cohort includes 22 startups receiving practical training, expert mentorship, access to Google’s AI technologies, up to $350,000 in cloud credits, and opportunities to network with world-class companies.

According to market research, the AI market in India is projected to reach $7.8 billion by 2025 and potentially add $500 billion to the GDP.

According to IIMA Ventures, these startups are addressing diverse challenges: in education, with AI-powered ERP, LMS, and CRM systems; in climate change, with a social marketplace for electric vehicles; in fintech, with AI tools to simplify loan and insurance documents; and in healthcare, with AI-driven collaborative platforms to streamline business processes.

IIMA Ventures has mentored over 7,000 founders, accelerated over 1,700 startups, provided catalytic capital to over 700 companies, and inspired over a million people with over 400 publications.